Markets not keen on WANDisco after H1 results

AIM-listed digital services firm WANDisco (LON:WAND) has seen its share price drop by 7.69% to 480p (as of 13:45 BST) after it published results for the six months ended 30th June. The company’s operating loss widened by 35.2% despite a 5.2% improvement in revenues.

CEO David Richards commented: “The core focus of management in H1 was securing the breakthrough deal with a major enterprise cloud partner announced on 15 July. The deal, one of the most important developments in our journey to date, is a significant co-development project which sees our technology deeply embedded into the vendor’s cloud offerings. The deal combines our Fusion technology with the scale, reach and enterprise capabilities of the Partner’s platform, with the sales and billing process fully independent from WANdisco.

“Our LiveMigrator solution, launched in H1, enabling the seamless migration of petabyte-scale live data to the cloud for the first time. With WANdisco LiveAnalytics, launched in Q3, we added the capability to provide continuous and immediate availability of analytics during and after migration.

“Our technology and go-to-market platform is building critical mass, with our breakthrough co-development deal a flagship example of the operational leverage developing within our business. This strong platform for growth and evolving pipeline of late stage deals in the early months of H2 leaves us in a strong position, underpinning the Board’s confidence in H2 and beyond“.